The offers involve four tranches of bonds

Davis Polk advised the dealer managers in connection with the Republic of Peru’s offers to purchase for cash and/or exchange S/13.7 billion (approximately $3.8 billion) aggregate principal amount of its outstanding 8.200% sol-denominated bonos soberanos due 2026, 6.350% sol-denominated bonos soberanos due 2028, 5.940% sol-denominated bonos soberanos due 2029 and 6.950% sol-denominated bonos soberanos due 2031, including existing bonds in the form of global depositary notes.

The Davis Polk corporate team included partners Pedro J. Bermeo and Maurice Blanco, counsel Arisa Akashi Sin and associate Michael Schuster. The tax team included partner Patrick E. Sigmon and associates Valentin Van de Walle and Georgianna Eck. All members of the Davis Polk team are based in the New York office.